OVERLAND PARK, KS-DBSI-Discovery Real Estate Services, an investment firm, has purchased two multi-tenant office buildings for almost 235,000 sf. The Highlands property, at 10740 Nail Ave., was built in 1999 and is 112,678 sf. The Southcreek III property, at 12900 Foster St., was constructed in 1998 and is 121,800 sf. The company bought the properties from Minneapolis-based Opus Corp.

Brian Olsen, vice president of operations with DBSI-Discovery, said the company seeks new stabilized income properties in growing markets. “The Overland Park market fits that criteria, demonstrating good demographics and growth. It’s near Kansas City and has favorable income trends,” he tells GlobeSt.com.

He says the Highlands property is 86% occupied, with tenants including Verizon and Massachusetts Mutual Life. The Southcreek III property is 77% occupied, with tenants including Accredo Health Group and Gentiva Health Services, Olsen says.

He would not reveal the purchase price or the lease rates of the properties. According to a CB Richard Ellis market report, the average lease rate in the Kansas City, KS area is $11.38 per sf, but has a 91.6% occupancy rate. The company represented Opus in the deal.

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